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Message: Re: L2 - Asks are VERY thin, Mark-hznm

Sep 15, 2010 01:09PM
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Sep 15, 2010 01:23PM
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Sep 15, 2010 01:40PM
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Sep 15, 2010 02:59PM

" When posters start saying if we can burn past the .75 mark we should take off after that( no resistance ,etc)"

What the guys are talking about is that they are looking at the asks further ahead and seeing that .75 is fairly large with quite a number of different bidders. They are speculating that if someone were to buy up the .75 asks then there are very few shares available for sale after that. So if some unknowing person were to place a "market" order that penetrated the .75 "resistance", then the price would jump very fast. Twilight has correctly indicated that this is not very desireable because it is a very temporary thing and in a sense a "mistake". He rightly feels that such mistakes correct themselves to far in the oposite direction.

Does this make sense?

..........cheers..........carry

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